Globalization, Social Adoption, International Regulation and the Evolution to Bankruptcy

Abstract

The term ‘globalization’ is peppered throughout countless corporate annual reports as the next big expansion in growth strategies with little regard to the implications of long-term social, political, economic and cultural effects on operating profitability, risks and market volatility. Social adoption of technology and the reaction by domestic and international governments is often not well thought out in eCommerce strategy development. Taxation levied on any mechanism that provides an exchange of value is the final step in the socialization of the underlying technology. Put simply, when global governments begin levying taxes on the Internet, they legitimize its role as an international mechanism for trade and exchange and move to regulate the flow of goods and services through this exchange channel.